Welcome to our dedicated page for Innovative Sol news (Ticker: ISSC), a resource for investors and traders seeking the latest updates and insights on Innovative Sol stock.
Innovative Solutions & Support, Inc., doing business as Innovative Aerosystems, reports developments in advanced avionics engineering, manufacturing and supply for commercial, business aviation and military markets. Its updates regularly cover financial results, conference calls, airframe manufacturer and aftermarket demand, and product areas such as flight management systems, flat-panel cockpit displays, standby units, air data instrumentation, autothrottles, flight control computers, mission computers and navigation systems.
Company news also includes completed product-line and license acquisitions that expand its integrated cockpit, autopilot, electrical power generation and sustainment capabilities. Recent releases describe support for fixed-wing and rotorcraft applications, general aviation product lines, Boeing 767, KC-46 and F-15 power-generator platforms, and lifecycle support for OEM and aftermarket customers.
Innovative Solutions & Support reported a strong fiscal 2020, with net sales of $21.6 million, up 23% from $17.6 million in 2019. In Q4 alone, sales rose 31% to $6.3 million, and net income increased to $1.2 million or $0.07 per share. The company declared a special dividend of $0.65 per share amounting to $11.2 million as a return to shareholders. With significant liquidity and no debt, IS&S maintains a positive outlook, driven by contracts with Textron and certification of new products.
Innovative Solutions & Support, Inc. (NASDAQ: ISSC) will release its fourth quarter 2020 results on December 9, 2020, after market close. A conference call will follow on December 10, 2020, at 10:00 AM Eastern Time to discuss these results, with registration available via phone at 1-844-739-3798. The call will also stream live on the company's Investor Relations page for 30 days. Innovative Solutions specializes in flight guidance and cockpit display systems for OEMs and retrofits, including advanced GPS receivers and Flight Management Systems.
Textron introduced the King Air 360 featuring an auto-thrust system called ThrustSense® which significantly reduces pilot workload during flight. This system enhances safety by providing critical protection during engine-out scenarios, where directional control is at risk. A webinar on November 4, 2020, hosted by Aviation International News, will discuss the safety attributes of auto throttles in turboprop twin-engine aircraft, featuring insights from industry experts. Innovative Solutions & Support, Inc. (NASDAQ: ISSC) is a systems integrator specializing in flight guidance systems and advanced navigation technologies.